What’s the Latest From Our Grand Rapids Market?

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What do the latest numbers say about our Grand Rapids market as we enter August?

First, mortgage interest rates stayed steady at 4.6%. Remember—this is 3.5% lower than the 30-year average. This makes homes way more affordable for buyers. If interest rates rise by just 1%, that can impact your payment by hundreds of dollars—don’t lose sight of that.

What else is different? Let’s look at some other numbers from this past July and see how they stack up compared to where we were at this point two years ago.

The median sales price currently stands at $190,000, which is an increase of 23% from July 2015.

Inventory sits at 3,370 active listings, which is down 37%.

The average days on market is 24 days, which is a decrease of 34%.

These numbers add up to a very strong seller’s market. Homes are selling quickly out there—some in less than 24 hours with multiple offers being thrown at them.

Grand Rapids is in a strong seller’s market.

Lastly, our month’s supply of inventory is down 48% to just 1.5 months, which means that’s all it would take to sell those 3,370 active listings if no other new homes came on the market.

If you have any questions about our market or are thinking of buying or selling a home, don’t hesitate to reach out to me. I’d love to talk with you.

About

Do you need to sell your home? Yoder Real Estate is in the top 1% of all Grand Rapids real estate agents because - with our systems - we list or sell a Grand Rapids home every 48 hours. In fact, we GUARANTEE your home will sell in 59 days or we'll buy it. Your home will be syndicated to over 383 partner sites, with relentless radio promotion on 106.9FM & 1300AM WOOD to sell it for the most money possible. On average, our listings sell for 98.6% of listing price - much higher than your traditional real estate agent - because we attract more home buyers to your listing than any other Grand Rapids real estate agent, outperforming 99% of all other Grand Rapids real estate agents.

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Client Testimonials

Brandy - "After my previous experience with my other Realtor, I liked that I could do away with the contract and just work day to day. Kevin always followed up and he always let us know what was happening with the house. He actually does what he says he’ll do and the communication was wonderful. I would highly recommend him and we would definitely use him again!"

Angel - "We had a pretty awesome experience. The stager came out and told us what to do to the house from putting an extra coat of paint on to suggesting we store some of our stuff offsite to make it look presentable. I think that really helped out a lot especially since the first day it was on the market, someone came through the house."

Deb -"They were responsive and on top of things throughout the entire process. They are an extremely professional organization, and we were very pleased in working with them."